Final answer:
False. Resource-based theory primarily focuses on individual firms rather than the competitive environment.
Step-by-step explanation:
False. Resource-based theory primarily focuses on individual firms rather than the competitive environment. It seeks to understand how firms can gain a competitive advantage by leveraging their unique resources and capabilities. The theory suggests that a firm's resources, such as tangible assets, intangible assets, and organizational capabilities, can give it a sustainable competitive advantage over its rivals.